To The Moon

News and my thoughts from the last week (13May24)

• The filing states that Wells Fargo maintains positions in both Grayscale’s Spot and Futures ETFs. Moreover, it reveals its shares of Bitcoin Depot Inc., which is the largest Bitcoin ATM provider on the market. - Watcher Guru

• U.S. Treasury yields were higher on Friday as traders digested downbeat consumer sentiment data, which indicated a significant uptick in inflation expectations. - CNBC

Tesla’s April 2024 sales have halved from March to 31,421 units. Is this a demand issue?

• APPLE TO USE OWN CHIPS IN CLOUD TO POWER AI FEATURES IN 2024. Are the players moving away from their dependence on Nvidia?

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Estimate: as of September 30, 2023, the banking system in aggregate had accumulated over $1.5 trillion in unrealized market-to-market interest rate-related losses on its fixed-rate securities, loans and lease investments.

Bank unrealized interest rate-driven losses are real losses but go unrecognized in official bank regulatory capital measures. They are hidden by the so-called Basel risk-based capital regulations. - AEI

• Billionaire real estate investor Barry Sternlicht says he expects at least one bank failure per week due to real estate loans: ‘That’s a fragile animal right now’ - Fortune

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BTC 1D chart quick technical analysis. MACD shows a bottom crossover, a buy signal. CMF shows a stronger selling momentum. Some patience can help. Not financial advice.

• Two more boxships belonging to Mediterranean Shipping Co (MSC) were attacked by the Houthis yesterday. the number of merchant ships targeted in the region since November last year is closing in on 100 ships. - Splash247

• U.S. spot power and natural gas prices plummeted into negative territory across Texas, California, and Arizona on Tuesday, signalling a surplus in production amidst subdued demand and ample hydropower reserves. - Oil Price

• Real estate developer Clarion Properties took a $60 million loss on a San Francisco office building it bought five years ago. - Yahoo Finance

• I am not sure if the Commercial Real Estate and regional banks are the weakest links in the economy now. there is an ongoing freight recession. the military conflicts are adding a burden to the countries.

• It is possible to have a record S&P500 level built upon an economy with growing concerns. It is possible for a strong market with weakening fundamentals.

• Stanley Druckenmiller revealed Tuesday that he slashed his big bet in chipmaker Nvidia earlier this year, saying the swift artificial intelligence boom could be overdone in the short run. - CNBC

• China will add as much production capacity for ethylene and propylene as what currently exists in Europe, Japan and South Korea, showing a big shift in the petrochemicals market. - Open Markets

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In July 2016 cycle, Bitcoin topped out 518 days after the Halving In the May 2020 cycle, Bitcoin topped out 549 days after the Halving If history repeats, Bitcoin will most likely to top out approximately 518 - 549 days after the Halving. This would imply that Bitcoin could peak in the current cycle in mid- September or mid-October 2025 with targets of $150k-$250k. X user Ash Crypto

• Funds for Social Security are now projected to run out in 2035. This is according to the annual trustees’ report released on Monday. At the projected depletion date, 83% of benefits will be payable if Congress does not act sooner to prevent the shortfall. Is Social Security a failed program? - X user The Kobeissi Letter

• Office vacancy rates reached a 30-year high of 18% in 2023. Companies have shed space and some have terminated their lease early. $929 billion of the $4.7 trillion outstanding commercial mortgages will come due in 2024. - Fortune

• "Chipotle said in an investor call Wednesday that prices at its nearly 500 California restaurants climbed 6% to 7% during the first week of April compared with last year, playing out across its menu," The Wall Street Journal reported Sunday. - Fox Business

@TigerStars

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